OctaFX | OctaFX Forex Broker
Open trading account
Back

AUD/USD Price Analysis: Aussie drifting down to fresh 2020 lows

  • AUD/USD is breaking below the 0.6831 support.
  • Downside targets can be seen near 0.6790 and 0.6767 levels. 
 
 

AUD/USD daily chart

 
AUD/USD is under bearish pressure falling to new January lows while trading below the main daily simple moving averages (SMAs) suggesting an underlying bearish bias. The market is breaking below an ascending trendline. The market is starting to pierce below the 0.6831 support. A daily close below this level can see further downside towards the 0.6790 and 0.6767 levels, according to the Technical Confluences Indicator. Resistance is seen at the 0.6892 and 0.6918 level.s 
 

Additional key levels 

 

United States Baker Hughes US Oil Rig Count rose from previous 673 to 676

United States Baker Hughes US Oil Rig Count rose from previous 673 to 676
Read more Previous

United States CFTC Oil NC Net Positions down to 520.6K from previous 530.3K

United States CFTC Oil NC Net Positions down to 520.6K from previous 530.3K
Read more Next
Start livechat